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AI in Drug Discovery Market Was Estimated at Around USD 0.8 Billion in 2021, And Expected Developments USD 9 Billion In Forecasted Year 2031

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Global AI in Drug Discovery Market Could Help Scientists to Accelerate the Discovery Process and Accurately Predict Human Response to New Drug Compounds.

AI is a technology that utilizes machines to simulate human intelligence to solve complex challenges in the drug development procedure. Artificial Intelligence (AI) in Drug Discovery, is expected to be a rising technology in the healthcare industry. The application of AI reduces R&D gap in the drug manufacturing process and accelerates in achieving the targeted production of drug. Hence, biopharmaceutical companies are turning to AI to increase their market share.

As per the scientist’s lookout, to use AI in Drug Discovery is more reliable and faster than other drug development/discovery processes. The AI in Drug Discovery market continues to take a positive trend. In general, scientists seem to have a growing curiosity in early and quick drug response. Also, the market has become far more competitive due to different private entries in the market. The availability of AI solutions in the clinical trial processes eradicate possible obstacles, reduces clinical trial cycle time and increases the accuracy & productivity of the clinical trials. In addition, the adoption of these advanced AI solutions in drug discovery processes is receiving popularity amongst life science industry investors.

The worldwide demand for AI in Drug Discovery market was estimated at around USD 0.8 billion in 2021, and by the end of 2031, existing and expected developments would hit valuations of around USD 9 billion. The industry players and analysts predict the global AI in Drug Discovery market growth of around 40% in terms of CAGR. During the upcoming years, rising incidences of chronic diseases initiates, the need for AI in drug discovery associated with the use of AI in Drug Discovery is projected to raise demand for the faster therapeutic uses.  However, high price of AI in Drug Discovery and technology & technical limitations are some of the challenges presented to AI in Drug Discovery markets development and growth.

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Some of the leading and top AI in Drug Discovery companies in the global AI in Drug Discovery market include Alphabet (DeepMind), Aria Pharmaceuticals, Inc., Atomwise Inc., Benevolent AI, BERG LLC, BIOAGE Inc., BioSymetrics, Cloud, Cyclica, DEEP GENOMICS, Envisagenics, Euretos, Exscientia, GNS Healthcare, IBM Corp., Insilico Medicine, Insitro, Microsoft, NuMedii, Inc., NVIDIA Corporation, Owkin Inc., Schrödinger, Inc., and XtalPi Inc. among others. The leading five players such as Alphabet (DeepMind), BioSymetrics, Microsoft, IBM Corp., and GNS Healthcare hold around the major market share of the global AI in Drug Discovery market.

On the basis of Drug Type, the worldwide AI in Drug Discovery market can be segmented Small Molecule and Large Molecule. In terms of indication, global AI in Drug Discovery market can be segmented into Immuno-Oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases. On the basis of Component, the market can be bifurcated into Software, Hardware and Services. On the basis of application, the market can be bifurcated into novel drug candidates, drug optimization and repurposing preclinical testing and approval, drug monitoring, finding new diseases associated targets & pathways, understanding disease mechanisms, aggregating and synthesizing information, de novo drug design, finding drug targets of an old drug, and formation & qualification of hypotheses. In terms of geography, North America region is held the leading market share and dominating among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global AI in Drug Discovery market.

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